Defending Main Street
Protecting Consumers, Investors, Retirees and Markets from the Predators
Financial Reform and Stability
Preventing Financial Crashes and Economic Collapse While Protecting Your Pocketbook, Our Shared Prosperity and America’s Limited Resources
Accountability
Returning the Law to Wall Street While Watching the Watchdogs, Defending Democracy, Transparency and Open Government
Advocacy and Outreach
Supporting the productive economy, creating wealth and broad-based prosperity while reducing systemic threats, inequality and economic insecurity
“[Better Markets] first shot to fame during the 2008 global financial crisis when it became a thorn in the side of Wall Street and Washington regulators because it complained loudly—and correctly—about the follies of excessive financial deregulation. Since then, it has continued to scrutinize the more recondite details of US regulation, complaining, again rightly, that the rules have recently been watered down.”
“Dennis Kelleher and his team at Better Markets have consistently pushed for financial reform that will help protect the U.S. economy from another financial crash. They are strong partners in the fight to level the playing field for middle-class families and have been persistent fighters for the American people, their jobs, savings and retirements.”
“Better Markets has served as a valuable and important voice pushing for fairness in our financial system.”
“Dennis Kelleher over at Better Markets, a huge presence in Washington, DC. A nonprofit, of course, established to make finance and government serve society a little bit better.”
“Dennis Kelleher [is] one of the most powerful lobbyists on financial regulatory reform.”
“It's more important than ever that consumers and taxpayers have strong advocates like Dennis and Better Markets to stand up for ordinary Americans.”
“Kelleher, a former attorney at Skadden, Arps, Slate, Meagher & Flom, has become well-known for his critique of both Wall Street banks and regulators who he has often accused of failing to hold the banks accountable for wrongdoing.”
Shaping the news, amplifying the public’s voice and analyzing new policies so Main Street doesn’t get left behind.
Comment
Letters
Better Markets filed more than 450 Comment Letters at the financial regulatory agencies and self-regulatory organizations.
Rule
Citations
Better Markets was cited over 170 times in final rules, showcasing the impact our subject matter experts make on the rulemaking process.
Court
Filings
Better Markets argues for strong regulation, effective remedies for investors, and a rulemaking process that complies with the law.
Print
Articles
Better Markets subject matter experts are continually sought after to amplify the public’s voice and to analyze new policies so Main Street doesn’t get left behind.
Today, on #GivingTuesday you have the power to make a meaningful difference for our democracy and economy.
A strong democracy requires an economy that works for everyone, not just the wealthiest, and that requires fighting the power and influence of the financial industry.…
.@business' @KatLeighDoherty reports on the
@SECGov's approval of 24X’s application to trade 23 hours a day, five days a week . Our Ben Schiffrin explains that this trend is problematic for retail investors...
https://www.bloomberg.com/news/articles/2024-11-28/first-around-the-clock-us-stock-exchange-wins-sec-approval?srnd=undefined&sref=mQvUqJZj
The @SECGov's approval of 24X’s application to trade 23 hours a day, five days a week, when liquidity is low and pricing is poor, will harm investors and damage markets. Learn more here:
SEC’s Approval of 24-Hour Trading is a Big Mistake That Will Harm Retail Investors and Damage...
WASHINGTON, D.C.—Director of Securities Policy Benjamin Schiffrin issued the following statement in connection with the ...
bettermarkets.org
.@DennisKelleher tells @peteschroeder @Reuters that "Everybody expects the Trump administration to weaken if not kill consumer financial protection.” That’s because the agency actually stands up to #WallStreet to protect #MainStreet.
Exclusive: US consumer finance watchdog moves on new rules ahead of Trump takeover
The U.S. consumer finance watchdog is moving ahead with rulemaking in the final weeks of Joe Biden's Democratic ad...
www.reuters.com
.@CFPB is under attack from the financial industry and billionaires because it has been so effective at combating predatory and discriminatory practices, having returned billions to victimized consumers.
Fact Sheet: The CFPB’s Outstanding Record in the Face of Relentless Industry Attacks | Better...
WASHINGTON, D.C.— Legal Director and Securities Specialist Stephen Hall issued the following statement on a new Bett...
bettermarkets.org
How do we reap the benefits of #AI while making sure Main Street Americans are protected? Our team lays out the key issues around AI and consumer protection here: https://bit.ly/49afZnx
#IndexFunds are widely regarded as one of the most successful innovations in modern finance. Yet the popularity of index funds has allowed the three main index fund managers to accumulate enormous power, which has the potential to harm investors. Our new report explains why…
While the debates over the 2024 election will continue for some time, it is clearly another reminder that the economy doesn’t work for most Americans. But there is a path forward most Americans do agree on.
For example, @ChrisMurphyCT's poll from Connecticut found that 82…
Putting "a behemoth in private equity" at the head of @USTreasury? @DennisKelleher tells @CNN's @allisondmorrow that "Putting a PE executive in charge of the Treasury Department would be a disaster for the American people."
https://www.cnn.com/2024/11/22/business/mark-rowan-treasury-private-equity-nightcap/index.html
The safety and financial stability benefits of deposit insurance are considerable. The safety of insured deposits is a two-edged sword, however, since it can allow even weak or nonviable banks to access large volumes of insured deposits, bundled and placed by deposit brokers.…
Important story from @LaMonicaBuzz @barronsonline on the debate around after hours trading and possible pitfalls for retail traders. https://www.barrons.com/articles/bitcoin-trading-stocks-after-hours-nyse-842d4e4a
Our Ben Schiffrin explains that supporters of Private Credit ETFs claim they will “democratize” access to private markets, but the reality is much more complicated and potentially much more dangerous for everyday investors. Learn why in our latest #substack:…
The American people deserve—and the financial system requires—regulators who hold banks accountable for all risks, regardless of the source. Our latest Fact Sheet details five things that must change related to managing #climate-related financial risk.
Fact Sheet: Financial Regulators’ Refusal to Recognize Clear, Well-Known Climate Risks is a...
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with the ...
bit.ly
#GaryWang was an indispensable collaborator in #FTX’s historic crime spree as the company's chief technical officer (and 17% equity owner), Alameda’s co-founder (who owned 10% of the company), and author of the code that allowed FTX to steal billions from its customers.
Today's…
This morning there will be two sentencings for historic financial crimes. The amount of jail time given will say a great deal about the state of our justice system. As we have consistently argued, a strong sentence is a matter of basic fairness. Equal justice under law means that…
Today #GaryWang will be sentenced for his role in the historic #FTX collapse. While Wang eventually cooperated with the prosecution he could have – and should have – come forward a year or 90, 60, or more days before FTX’s collapse. He could have been a whistleblower. He could…
.@DennisKelleher joined @CNBC's #CryptoWorld w/ @bgomezreports to discuss the industry's massive election spending. The crypto industry's ads never mentioned crypto. Why? Most Americans don't care about crypto, and most that do have a negative opinion of it.…
.@CFTC's #Whistleblower Office has played a pivotal role in exposing wrongdoing that undermines the fairness and integrity of the commodities and derivatives markets. This vital tool has helped bring to light misconduct that might otherwise have remained hidden. Since its…
Important column by @RanaForoohar of the @FT on what's coming for our economy in a second #Trump administration.
https://www.ft.com/content/e578ca2a-15ae-423b-8971-e02c4440d5fb
Our new report explains that the #PrivateMarkets have seen explosive growth over the last two decades. This growth comes at the expense of our public markets, which are deep, liquid and the envy of the world. The growth of the private marketshas significant ramifications for…
.@lisabonos @washingtonpost writes on the rush of investors into #crypto. @DennisKelleher explains that if Trump does the crypto industry's bidding “there are going to be few if any investor protections, which will make this already very volatile, conflict-ridden product even…
.@DennisKelleher joined @NPR's "All Things Considered" and @mariaaspan to discuss #crypto and the election. Dennis warns that the industry is trying to weaken regulation and supervision of crypto, which will lead to more crypto scams and crimes. https://www.npr.org/2024/11/11/nx-s1-5184152/the-crypto-industry-won-big-this-election-it-has-several-implications
The so-called “prediction markets” did not “nail the presidential election” as the industry claims. Frankly, the results show that the financial industry is really just trying to rebrand “gambling markets” as “prediction markets.” Learn more in our new memo:…
The #crypto industry is trying to push its priorities to the top of the policy agenda despite the fact that numerous surveys show most Americans don't care about crypto and most that do have a negative opinion of it.
Our new fact sheet outlines the key issues policymakers should…
.@EbrimaSSanneh of @AmerBanker examines the future of #FSOC. Our Shayna Olesiuk explains "nonbanks have continued to grow, becoming not only bigger threats to financial stability & the American people but also more complex and interconnected with banks."
FSOC approach to nonbanks unlikely to change under Trump
The incoming Trump administration is expected to prioritize an activities-based oversight approach to nonbank entities, ...
www.americanbanker.com
What is the #crypto industry trying to buy with the nearly $200 million dollars it spent in the election? Its goal is to get special interest legislation to give the industry an aura of legitimacy, despite its long rap sheet. Learn more in our fact sheet.
Fact Sheet: Crypto 101 | Better Markets
Bait-and-Switch, False Promises, Influence Peddling and a Growing Threat to our Financial System and Main Street WASHI...
bettermarkets.org
.@DennisKelleher tells @GGottsegen of @MarketWatch that there's reason for skepticism when it comes to prediction markets.
https://www.marketwatch.com/story/its-not-just-election-betting-why-one-expert-thinks-prediction-markets-will-become-bigger-than-stocks-fb20c188
The application for a private credit #ETF from @StateStreet and @apolloglobal further blurs the line between the public and private markets. Public markets provide transparency and protections for retail investors, while private markets often do not. That's why we have serious…
Not only does election betting threaten our democracy but it also contributes to a culture where gamification and addictive gambling behavior is becoming more and more common. That's why @DennisKelleher tells @lisabonos of the @washingtonpost that these platforms are really no…
David Moskowitz, Former Wells Fargo Executive Vice President and Head of Government Relations and Public Policy, has joined Better Markets as a senior fellow. Welcome to the team, David! https://bettermarkets.org/newsroom/former-wells-fargo-evp-deputy-general-counsel-and-head-of-government-relations-and-public-policy-david-moskowitz-joins-better-markets-as-senior-fellow/
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please contact press@bettermarkets.org or 202-618-6433.
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